Half of Americans are saving next to nothing

[Liberal_in_LA]

When it comes to saving, we aren't doing enough of it.

Roughly half of Americans are saving 5% or less of their incomes, including 18% that are not saving anything, according to a survey from Bankrate. Only about a quarter of people are saving more than 10% of their earnings.

So how much should you be saving? Bankrate recommends 15%.

"Between emergency savings and the ever-increasing burden of retirement savings that is on the individual, the goal should be 15% of your income," said Greg McBride, the personal finance website's chief financial analyst.
Currently, one in seven people are saving more than 15%, the report showed.
http://money.cnn.com/2015/03/30/pf/income-saving-habits/index.html

[daleanime]

1. When you're have trouble paying for the basics....

it's kind of hard to set anything aside.



Some times the obvious must be said.

[Vincardog]

3. Lets ask the fool who wants us to save 15% if he wants to trade incomes for a year. Moran

[daleanime]

6. Works for me....

but I don't think they would be willing.

[tkmorris]

2. Because they can't

Oh sure, we all know SOMEONE who is making plenty but spending it all and more trying to keep up with the Joneses, but the majority of us would love to save and can't because there simply isn't enough as it is, let alone any left over to be saved.

[Tuesday Afternoon]

4. why save with these interest rates? not enough incentive to lure me.

[shraby]

5. If they did save, the bank doesn't pay much interest on the savings, and often take more back

in fees and charges because the account isn't "active enough" or doesn't have enough in it>

[Downwinder]

7. If you were to save anything they would cut something else.